SANTA MONICA, Calif.--(BUSINESS WIRE)--March Capital Partners, founded by Jim Armstrong, Sumant Mandal, Gregory Milken and Jamie Montgomery, announced today the final close of its first fund, totaling $240 million. The new Southern California fund has a global focus and is the largest first-time venture fund to launch in the region. March Capital invests in both early and late-stage companies across multiple technology sectors, focusing in large part on the infrastructure behind today’s consumer and mobile services. The firm has already invested more than $100 million in over 15 companies globally, and will continue to partner with top entrepreneurs worldwide to build successful technology companies in a variety of enterprise and emerging verticals.
“The partners of March Capital work closely with entrepreneurs around the world to support and accelerate the development of their most innovative ideas and reach success faster,” said Gregory Milken, co-founder and managing director, March Capital. “Our portfolio reflects the desire to lead the Southern California market, as well as our global ambitions.”
March Capital was formed by a group of technology industry veterans with collectively over 50 years of experience investing hundreds of millions of dollars in venture capital and private financings, including investments in PayPal, The Rubicon Project, Internet Brands and CrowdStrike. Montgomery is the founder and former CEO of Montgomery & Co. and founder of the Montgomery Summit, a leading conference gathering entrepreneurs, senior-level investors and top executives from private technology companies and venture capital firms. Milken brings 15 years of entrepreneurial and operational experience to the firm as founder and former COO of AltEgo, and as a senior executive at Knowledge Universe. Colleagues for more than a decade, Mandal and Armstrong began investing together at idealab Capital Partners and then Clearstone Venture Partners, where they focused on early-stage investments. The four partners plan to leverage their longtime expertise as investors and entrepreneurs in Southern California.
The firm has built a strong technology-centric portfolio of 10 series A investments and four series C investments in Northern California, Southern California, Europe and India, with an emphasis on enterprise on-demand services, technologies to enable hyperscale infrastructure and business opportunities from global mobile expansion.
March Capital portfolio companies include Appcito, appLariat, BillDesk, Bridg, CarTrade, Coho Data, Deep Forest Media (sold to Rakuten), Dojo Madness, E8 Security, OpenHouse, Pensa Networks, Perspica, quick.ly, VeloCloud Networks, Vyng and ZowDow. The firm has also invested in two Silicon Valley incubators, The Hive and The Fabric.
ADDITIONAL REPRESENTATIVE QUOTES:
“I am excited to see a world class technology-focused venture firm emerge in Southern California,” said Bahram Jalali, UCLA professor, entrepreneur and founder of Cognet Microsystems, a company acquired by Intel.
“March Capital should be a technology entrepreneur’s first call in Southern California,” said George Kurtz, founder and CEO of CrowdStrike.
"We are very pleased to continue our longstanding relationship with the principals of March Capital Partners in the strategically important Southern California market. As partners, we value their deep expertise, relationships and experience," said Peter Chung, CEO of Summit Partners.
"March Capital embodies what it means to be a top tier venture firm,” said Sanjay Uppal, CEO and co-founder, VeloCloud Networks. “From the time we started through our recent growth financing led by March Capital, we have been able to leverage their extensive relationships, expertise in networking technologies and business judgement, which has proven invaluable to our success."
“The partners of March Capital have worked closely with us to build our team, properly capitalize our company and assure our success,” said Amit Jain, CEO, Bridg. “It’s been incredible to work with a VC firm that truly understands my mindset as an entrepreneur.”
About March Capital Partners
March Capital Partners is a Santa Monica-based venture capital firm with one of the largest global funds in Southern California. Founded by industry veterans with over 50 years of investing experience, March Capital is unique in the Southern California market with its active investments in both early and late-stage companies in mobile, enterprise, infrastructure, gaming and other growth industries. The majority of March Capital’s investments are with Southern California companies, with targeted positions in innovative global organizations. For more information, see http://www.marchcp.com/.